Willie O'Dea
Question:249. Deputy Willie O'Dea asked the Tánaiste and Minister for Finance for an update on the Programme for Government commitments on insurance reform; and if he will make a statement on the matter. [72870/25]
View answerThursday, 18 December 2025
Questions (249)
Written answers
The Government is progressing the commitments in the Programme for Government to further reform the insurance sector in Ireland and ensure transparency, affordability, and availability of insurance for all consumers.
The new Action Plan for Insurance Reform was published in July 2025, comprised of twenty-six actions being led across a number of Departments, ten of which are priority actions. Of these priority actions, one has been completed, and the remaining nine actions are currently on track to be completed within their respective timeframes.
Of these priority actions, transparency in the insurance sector is a key priority and a transparency code for the insurance industry is under development. The Code will require insurers to provide simple, understandable explanations of how premiums are formed and what broader factors influence pricing. It will also ensure consumers can receive additional individual information upon request. It is my expectation that the Code will be finalised by my officials shortly and ready for launching in the new year.
Work is also ongoing in the Office to Promote Competition in the Insurance Market (OPCIM) to enhance competition in the insurance market. Meetings have taken place with insurers in London and Ireland to address capacity issues, and the Office has established a speciality forum to explore the speciality insurance sector and to examine how Ireland can be effectively positioned and promoted as a leading jurisdiction for speciality insurance business.
My Department is working closely with the Office of Parliamentary Counsel to progress the “Right to Be Forgotten” legislation for cancer survivors to ensure fair access to financial services, specifically mortgage protection insurance, and to allow the Bill to progress in a timely manner in 2026.
The Government has also approved the drafting of a general scheme of a Bill to amend the Judicial Council Act 2019 to make reviews of the Personal Injuries Guidelines more comprehensive and transparent.
The Minister for Enterprise, Tourism and Employment commissioned the Injuries Resolution Board to undertake a piece of research to examine levels of Irish personal injury awards compared to the UK. That independent report, ‘A Review of Compensation for Minor Soft Tissue Injuries in Ireland and the UK’ was published on 16 October.
The Government will continue to monitor the progress of the Programme for Government commitments on insurance reform via the Cabinet Sub Group on Insurance Reform and work to secure a fair and transparent insurance market in Ireland.